Facebook Reports Second Quarter 2020 Results

MENLO PARK, Calif. – July 30, 2020 – Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter ended June 30, 2020.

"We're glad to be able to provide small businesses the tools they need to grow and be successful online during these challenging times," said Mark Zuckerberg, Facebook founder and CEO. "And we're proud that people can rely on our services to stay connected when they can't always be together in person."

Second Quarter 2020 Financial Highlights
 
Three Months Ended June 30,
 
Year-over-Year % Change
In millions, except percentages and per share amounts
2020
 
2019 (1)
 
Revenue:
 
 
 
 
 
Advertising
$
18,321

 
$
16,624

 
10%
Other
366

 
262

 
40%
Total revenue
18,687

 
16,886

 
11%
Total costs and expenses
12,724

 
12,260

 
4%
Income from operations
$
5,963

 
$
4,626

 
29%
Operating margin
32
%
 
27
%
 

Provision for income taxes
$
953

 
$
2,216

 
(57)%
Effective tax rate
16
%
 
46
%
 

Net income
$
5,178

 
$
2,616

 
98%
Diluted earnings per share (EPS)
$
1.80

 
$
0.91

 
98%
_________________________
(1) Includes an additional $2.0 billion legal expense related to our settlement with the U.S. Federal Trade Commission (FTC) and a $1.1 billion income tax expense due to the Altera Ninth Circuit Opinion, both accrued in the second quarter of 2019.

Second Quarter 2020 Operational and Other Financial Highlights

Facebook daily active users (DAUs) – DAUs were 1.79 billion on average for June 2020, an increase of 12% year-over-year.
Facebook monthly active users (MAUs) – MAUs were 2.70 billion as of June 30, 2020, an increase of 12% year-over-year.
Family daily active people (DAP) – DAP was 2.47 billion on average for June 2020, an increase of 15% year-over-year.
Family monthly active people (MAP) – MAP was 3.14 billion as of June 30, 2020, an increase of 14% year-over-year.
Capital expenditures – Capital expenditures, including principal payments on finance leases, were $3.36 billion for the second quarter of 2020.
Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $58.24 billion as of June 30, 2020. On July 7, 2020, we paid approximately $5.8 billion at the then‑current exchange rate for our investment in Jio Platforms Limited.
Headcount – Headcount was 52,534 as of June 30, 2020, an increase of 32% year-over-year.

1


The following information was filed by Facebook Inc (FB) on Thursday, July 30, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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